# Cincinnati Financial Corporation (CINF) - Recent Events

## Filings that contain financial statements

Cincinnati Financial is a domestic filer. Its quarterly earnings press releases (Exhibit 99.1 to Form 8-K Item 2.02) carry condensed consolidated balance sheets and statements of income, and the accompanying Exhibit 99.2 supplemental financial data carries detailed results tables.

- Form 8-K filed October 26, 2026, accession 0000020286-26-000059: third quarter and nine months ended September 30, 2026 (condensed balance sheet and income statement in Exhibit 99.1; supplemental data in Exhibit 99.2).
- Form 8-K filed July 27, 2026, accession 0000020286-26-000043: second quarter and six months ended June 30, 2026.
- Form 8-K filed April 27, 2026, accession 0000020286-26-000025: first quarter ended March 31, 2026.
- Form 8-K filed February 9, 2026, accession 0000020286-26-000005: fourth quarter and full year ended December 31, 2025.
- Form 8-K filed October 27, 2025, accession 0000020286-25-000061: third quarter and nine months ended September 30, 2025.

## Earnings releases

- **October 26, 2026 (third quarter 2026; accession 0000020286-26-000059).** Net income was $459 million ($2.96 per diluted share), against $1.122 billion ($7.11) a year earlier, when after-tax investment gains were $673 million versus $16 million this quarter. Non-GAAP operating income was $443 million ($2.86 per share), against $449 million ($2.85). The property casualty combined ratio was 90.9%, up from 88.2%, with catastrophe losses adding 7.0 points; favorable prior-year reserve development was $94 million (3.6 points). Property casualty net written premiums grew 2% in the quarter and 4% over nine months, while new business written premiums fell 12% to $315 million. Book value per share was $105.42, up $3.07 since year-end 2025. The value creation ratio was 5.8% for nine months, against 13.8% a year earlier. Nine-month non-GAAP operating income rose 38% to $997 million, and the nine-month combined ratio was 95.8%, against 98.4%. The release gives no earnings guidance beyond the company's stated long-term combined ratio target of 92% to 98%.
- **July 27, 2026 (second quarter 2026; accession 0000020286-26-000043).** Net income was $1.255 billion ($8.05 per share), including an $882 million after-tax increase in the fair value of equity securities still held. Non-GAAP operating income was $224 million ($1.43), against $311 million, with after-tax catastrophe losses up $61 million. The property casualty combined ratio was 100.8%, against 94.9%. Book value per share was $108.64.
- **April 27, 2026 (first quarter 2026; accession 0000020286-26-000025).** Net income was $274 million ($1.75 per share) and non-GAAP operating income was $330 million ($2.10), against an operating loss of $37 million in the first quarter of 2025. The combined ratio was 95.6%, against 113.3%. Book value per share was $101.60.
- **February 9, 2026 (fourth quarter and full year 2025; accession 0000020286-26-000005).** Full-year 2025 net income was $2.393 billion ($15.17 per share) and non-GAAP operating income was $1.254 billion ($7.95), up 5%. The full-year combined ratio was 94.9%. Book value per share was $102.35 at December 31, 2025.

## Capital actions

- **Dividends.** On January 30, 2026 the board raised the regular quarterly dividend 8% to $0.94 per share from $0.87 (accession 0000020286-26-000003). The same $0.94 was declared on May 2, 2026 (announced May 4; accession 0000020286-26-000030) and August 21, 2026 (accession 0000020286-26-000047, payable October 15, 2026 to holders of record September 23, 2026). The August release says the October payment completes 66 consecutive years of increasing annual cash dividends. The earlier $0.87 dividend was declared November 14, 2025 (accession 0000020286-25-000066).
- **Share repurchase authorization.** On August 21, 2026 the board authorized the repurchase of up to an additional 15 million shares, in addition to the shares remaining under the existing 15 million-share authorization effective January 26, 2018; the new authorization has no fixed expiration date (Form 8-K filed August 25, 2026, accession 0000020286-26-000049). The third-quarter 10-Q (accession 0000020286-26-000060) reports 16,841,845 shares available for repurchase under the programs at September 30, 2026, and shows $395 million of shares acquired under the repurchase authorization in the first nine months of 2026 (2.4 million shares), against $102 million (0.7 million shares) in the same period of 2025.
- **Credit facility.** On September 25, 2026 Cincinnati Financial and CFC Investment Company extended the expiration date of their October 10, 2025 credit agreement (Fifth Third Bank, N.A., administrative agent) by one year, from October 10, 2030 to October 10, 2031. All other terms are unchanged, and one further extension remains available under the agreement (Form 8-K filed September 28, 2026, accession 0000020286-26-000052). The extension is a signed amendment, effective upon the lenders' execution and payment of an extension fee; the filing describes no borrowing.

## Management and board

- **June 19, 2026:** the board added a 15th seat, appointing retired Admiral Lisa M. Franchetti, former Chief of Naval Operations, as an independent director and audit committee member, effective immediately (accession 0000020286-26-000038).
- **June 16, 2026:** John S. Kellington, chief information officer and executive vice president of The Cincinnati Insurance Company, will retire August 7, 2026. Ryan M. Osborn, vice president of information technology, assumes executive responsibility for the IT teams (accession 0000020286-26-000034).
- **January 30, 2026:** Luyang Fu (senior vice president and chief actuary), R. Phillip Sandercox (senior vice president, head of Cincinnati Re) and Andrew M. Schnell (senior vice president and treasurer, who leads accounting and SEC reporting) were named executive officers of the property casualty subsidiaries (accession 0000020286-26-000003).
- **Annual meeting, May 2, 2026:** shareholders elected all 14 directors, approved the Amended and Restated Articles of Incorporation and the advisory executive compensation vote, and ratified Deloitte & Touche LLP for 2026. A shareholder proposal on special meeting rights received 33.3 million votes for and 89.2 million against (accession 0000020286-26-000030).

## Not reflected in the filings reviewed

None of the filings reviewed reports an acquisition, divestiture, merger agreement, restructuring, impairment, or earnings guidance change. Investor presentation slides were furnished on November 7, 2025, May 19, 2026 and August 25, 2026 (accessions 0000020286-25-000064, 0000020286-26-000032, 0000020286-26-000049) with no separate news.